Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0020%/8h= −2.2% APRpaid last 24h −0.043%

Price spread now: KuCoin against Coinbase International+0.191%7-day average −0.153% · you sell dearer than you buy

Net, funding: paid 7d − costs−$182as in the Funding arb table

Net, price: spread back to 7d avg − costs−$116as in the Price arb table

costs, in and out, $10k−$1501.503% of the position

Long on Coinbase International Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.318%−$32 on $10k

Price spread, last 4 days (all we have)−0.348%−$35 · spread now +0.191%, 7d avg −0.153%

Together, before fees−0.666%−$67 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.344% dearer against Coinbase International than usual: you sell high and buy low (spread +0.191% now, against its 7-day average of −0.153%): +$34 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 57 days. At the pace of the last 7 days (−0.318% in total) that is about 7.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International NBIS-PERP-INTX	230.39	0.0120	pay 0.0015% / 1h	24m 35s	$351K	$812K	10x
Short	KuCoin NBISUSDTM	230.83	0.0100	get 0.0100% / 8h	1h 24m	$476K	$20K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Coinbase International. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Coinbase InternationalbpFee KuCoinbpOrdersPrice spread, now +0.191%Rate

Funding earned: −$4.2
Price spread: +0.191% → −0.153%: $34.38
Slippage, 4 orders: −$128.32
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$120.13
Costs to cover: 1.503%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 19 min ago; KuCoin: live order book, 19 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Coinbase International live order book, 19 min ago	3.26 bp	11.5 bp −$11	21.7 bp −$217	doesn't fit	doesn't fit
Sell KuCoin live order book, 19 min ago	23.88 bp	62.1 bp −$62	doesn't fit	doesn't fit	doesn't fit

NBIS on 31 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget NBISUSDT	−0.0589%	8h	230.96	+0.247%	$2.3M	$4.5M	20x	as long as short
BloFin NBIS-USDT	−0.0005%	8h	230.94	+0.239%	$204K	$205K	20x	as long as short
Aster NBISUSDT	0.0000%	8h	230.80	+0.178%	$84K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	230.89	+0.215%	$149K	$635K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	230.95	+0.243%	$18.5M	$87.3M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	230.96	+0.247%	$4.9M	$6.6M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	230.81	+0.182%	$3.3M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	231.03	+0.278%	$2.7M	$5.2M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	230.85	+0.199%	$2.8M	$601K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	230.78	+0.169%	$5K	$116K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX NBIS-USDT	0.0000%	8h	230.74	+0.152%	$1K	$1.6M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	230.87	+0.208%	$34K	$49K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	230.98	+0.256%	$15K	$57K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	230.91	+0.226%	$1.6M	$963K	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	230.68	+0.126%	$42K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	230.81	+0.182%	—	$221K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	230.82	+0.187%	$137K	$473K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	230.88	+0.213%	$102	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	230.43	+0.017%	$151K	$548K	10x	as long as short
QFEX NBIS-USD	+0.0056%	1h	230.91	+0.226%	$1.5M	$3.8M	10x	as long as short
Nado NBIS-PERP	+0.0075%	1h	230.94	+0.237%	$38K	$115K	3x	as long as short
tradeXYZ xyz:NBIS	+0.0089%	1h	230.86	+0.204%	$54.3M	$21.0M	10x	as long as short
KuCoin NBISUSDTMshort	+0.0100%	8h	230.83	+0.191%	$476K	$20K	20x
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	230.93	+0.234%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	230.89	+0.215%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTXlong	+0.0120%	1h	230.39	long leg	$351K	$812K	10x
Lighter NBIS	+0.0224%	1h	230.90	+0.221%	$956K	$4.0M	10x	as long as short
Phoenix NBIS	+0.0311%	1h	230.72	+0.143%	$7K	$150K	10x	as long as short
Entropy io:NBIS	+0.0361%	1h	230.79	+0.174%	$10.0M	$3.1M	10x	as long as short
edgeX NBISUSDC	+0.0511%	4h	230.68	+0.126%	$37K	$226K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0684%	1h	230.92	+0.229%	$23K	$15K	20x	as long as short